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  1. #1
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    Default financial help for a college students

    have a daughter 2nd year in collage. We are having difficult financially
    with her tuition. I have a chronic illness called Myasthenia Gravis. Because
    of my health I am unable to work. My husband is the only bread winner in our
    family. We are struggling with our children's collage costs. Does anyone
    know of a website or organizations that helps those in financial need for
    collage
    education. Your input is greatly appreciated.

    Thank you,
    Melissa
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  2. #2
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    Re: financial help for a collage students


    There should be a financhial advisor at your daughter's college. She
    needs to set up a meeting with that person, and go over her options.
    The options will include private loans, government loans, and
    grants. As she's already in school, she probably won't be able to
    get any scholorships, but the advisor will be able to help find any
    obscure ones she might qualify for.

    Even if she doesn't get any grants or schol's, she WILL qualify for
    loans for school. You can get a student loan in just the students
    name, or in your name as well as hers. Because you can't afford it
    right now, I'd suggest getting it in her name. She's responsible for
    the payments, but they won't be due for 6 months PAST when she stops
    attending school (through graduation, or dropping out), and they
    will not collect interest until that point, either. If she has a
    part time job, and makes even a $20 payment towards it each month,
    it's less she'll have interest on.

    For scholorships and grants, you usually want to have those BEFORE a
    child is done with thier senior year of high school. They almost
    always are awarded to JUST seniors headed for college. Grants are a
    bit more lenient. They're awarded based on need, NOT scolastic
    merit, though that DOES help. If she has above a certain grade point
    average (around 3.0 or 3.5), she'll qualify for a LOT more. If she's
    Dean's List, the list of available grants is even longer.

    Basically, they reward good students. As I said already, though,
    your most likely course is going to be a student loan. They're not
    that scary to do, as long as it's done responsibly, and kept at the
    absolute minimum needed.

    With most loans, it's based on a 1 year need, and split in half. You
    get half for the fall semester, and half for the spring semester.
    Now, you can take out up to like 11k per year (or that's what it was
    a few years ago when my husband was in school- it might also depend
    on the school's price), but I highly recommend taking out JUST
    what's needed, nothing extra. Factor in housing, and books along
    with the actual cost for the classes. You'll end up getting the same
    amount for both semesters.

    We were dumb (and poor- a family of 4 living off $8k a year) when we
    did it, and we always took the max- $5500 per semester. That allowed
    us to pay for his school, pay rent up for 6 months each time, and
    spend frivolusly. We're now paying through the nose for it, though,
    and student loans DON'T go away. So if that's the way you choose to
    go, you need to make sure everyone is well versed in how it works.
    There is also a video that all students are required by law to watch
    when accepting a student loan. Also- she will be given a list of all
    grants & loans offered to her. She won't be required to accept any
    of them at all, let alone all. You can go over them all together,
    and she can go over them with the advisor, and see which one(s) are
    the best fit for her and her schooling needs.
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  3. #3
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    RE: Budget101.com : financial help for a collage students


    Melissa,
    I'd check with the financial advisor of the school. They usually are in the
    loop on the latest types of grants and such. There are software programs
    that you can get too that have a wizard that you put in your/her information
    into and it will come up with different schollarships and grants that she
    would qualify for.

    HTH,
    Stacey
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  4. #4
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    Re: financial help for a collage students


    Sorry to hear about your situation. There are grants and scholorships out there
    for kids who are already enrolled. The first step is usually to fill out the
    FASFA. It can be completed on the FASFA website. Talk to the finance officer at
    her college. Many colleges offer a payment plan, it's like a deferral and it
    usually consists of three or four payments. This can hold her classes until you
    can work out funding. Once the FAFSA is complete, she may qualify for work study
    which isn't alot of money but can definitely help. There are also web sites, my
    favorite is FastWeb.com, which requires the student (or parent) to fill out a
    questionaire to taylor the search to financial and family situations. But be
    careful.... don't go to a site that requires you to pay money for a search. And
    if you go to your search engin and type "money for college" or "Scholorships" or
    "Finance college" you will get more hits than you can use. Good Luck!
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  5. #5
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    Re: financial help for a collage students


    This won't help for this year, but if you've filled out the FAFSA (Free
    Application for Federal Student Aid) you should be able to get some help for
    06-07. Student loans are an option, but always go federal, not private.
    Federal loans can be consolidated later, private loans cannot. Have her apply
    for all scholarships and grants she can find, there are literally books full of
    these at the library. It's possible that there's a scholarship for children of
    parents with your chronic illness. I know it's hard to consider using something
    so debilitating to your advantage, but the money's out there. MILLIONS of
    dollars in scholarships go unclaimed every year because people just don't apply.

    Good luck!

    ~Jenn (who took all loans and is really, really regretting it now)
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  6. #6
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    RE: financial help for a collage students


    Melissa

    Check with the financial aid dept at the college. I know from experience
    that even when you're in college the college you go to may have special
    scholarships based on your GPA and on what year you're in. The school I went
    to offered half tuition scholarships for sophomore, junior, and senior
    college students if their GPA was 3.0 the previous year they attended. I
    did go to a private school and not a University. A good school in Missouri
    is School of the Ozarks. You can receive full tuition paid to attend that
    college but you have to do work-study (used to pay for room and board) while
    you're attending.

    Also, it might seem like it's a bit late, she may be able to transfer to a
    community college for the first two years of college and then transfer those
    credits to a four year school. Our community college in Moberly has credit
    hours for less than 100 bucks per hour and that is a major difference from
    250 to 350 per credit hour for 4 year schools.

    Another option that your daughter might consider is looking for a school
    that offers her degree in the evenings. She could work during the day and
    get her classes done in the evening. Columbia College in Missouri also has
    online classes as well as an evening campus. You can usually get your degree
    within about 3 years taking evening/online classes--8 week classes usually 2
    classes per 8 weeks.

    Check out the federal work-study option at your daughter's school as well.
    Students can earn a paycheck while they go to school. I did it the last
    year and half I was in school. It isn't much, but it does help out and she
    can spend that any way she likes.

    Hope this helps.

    Wanda
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  7. #7
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    Re: Budget101.com : financial help for a collage students


    there are several out there
    check on the internet
    also because of your condition - there may be a scholarship out there for
    students or kids of parents with the condition.

    To tell you the truth --- there are so many scholarships out there - but one
    has to do the research and be willing to meet the criteria and deadlines

    there is even a site that actually send you notices of scolarships on a
    regular basis and informs you of the deadlines in timely manner.
    This is based on criteria you submit in a web based tool so they can send only
    scholarships application info relevant .

    hope this was helpful

    My kids are in tail end of that stuff so I do not have actual references for
    you
    Elaine
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  8. #8
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    RE: Budget101.com : financial help for a collage students


    Melissa,
    My husband just recently went back to school. I have a collection of
    helpful links and information. If you would like to have them email me
    directly and I'll send it to you.
    Tammy
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